Ohio Rev. Code § 4517.261

Current with legislation from 2024 received as of August 15, 2024.

Section 4517.261 - [Effective Until 10/24/2024] Documentary service charge for sale or lease

A motor vehicle dealer may contract for and receive a documentary service charge for a retail or wholesale sale or lease of a motor vehicle. A documentary service charge shall be specified in writing without itemization of the individual services provided. A documentary service charge shall be not more than the lesser of the following:

(A) The amount allowed in a retail installment sale;

(B) Ten per cent of the amount the buyer or lessee is required to pay pursuant to the contract, excluding tax, title, and registration fees, and any negative equity adjustment.

R.C. § 4517.261

Effective Date: 2007 HB119 9/29/2007.

This section is set out more than once due to postponed, multiple, or conflicting amendments.